Reply to Anyone plan on not paying back student loans?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I got forgiveness through PSLF this year. I'd been paying since 2008 and my balance was 2k less than when I started. My plan B if PSLF had continued being so broken (I was notified in 2022 that I had actually completed all the requirements for the program in 2019 and got a refund) [b]was to do a plan default.[/b] [/quote]What does that mean? I thought defaulting on Federal loans gets you nowhere because they can never be discharged?[/quote]

Yes, I would stop paying and add that money to my retirement. I would ruin my credit and could have a percentage of SS garnished. When I looked at my specific circumstances, that seemed like a better option than paying for thirty years.[/quote]I thought the Feds come for everything? Meaning they garnish bank accounts, liens on house, tax returns (altho you can get around this), etc.[/quote]

They don't do any of those things for federal student loans. They can sue people who default, but, at least where I live, that is extremely rare.[/quote]

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